AB Linas Agro Group took over management of UAB Jungtine Ekspedicija

March 15, 2013 03:00 ET | Source:Linas Agro Group

multilang-release

Panevezys, Lithuania, 2013-03-15 08:00 CET (GLOBE NEWSWIRE) --

AB Linas Agro Group acquired 54.95% of shares of UAB Jungtine Ekspedicija for the total amount of litas 1,045,000 and took over the management of the enterprise.At present, AB Linas Agro Group controls 100% of the stock of UAB Jungtine Ekspedicija.

UAB Jungtine Ekspedicija, established in Klaipeda in 1998, provides freight transportation, reloading, warehousing, insurance, bulk cargo packing into bags in Klaipeda seaport, provides custom agent's services, selects optimum routes for freight transportation, provides ship agency and chartering services. The major freight of the company consists of agricultural produce (rapeseed, grain, oilseed cakes and meal), fertilisers, vegetable oils, biodiesel, various chemical products, metal raw material and products, vitamin concentrates and fodder additives, a wide range of fossils and minerals, various other standard size and oversized cargoes. The company collaborates with seven stevedoring and three cargo control companies in Klaipeda seaport and has the exclusive right to use roofed warehouses with 57 thousand tons capacity and liquid products terminal with 7.5 thousand tons capacity. Revenue of the company in the first half of financial year 2012/2013 totalled LTL 1.32 million.

About AB Linas Agro Group

AB Linas Agro Group is an agribusiness parent company engaged in the production and trade of grains, oilseeds, feedstuff and agricultural inputs. It controls companies in Lithuania, Latvia, Estonia and Denmark. The group consists of international agricultural production trading company in Lithuania AB Linas Agro, grain storage company UAB Linas Agro Grūdų centras KŪB (controlling grain storages in Joniškis, Kėdainiai, Kupiškis, Pasvalys, Šakiai district, Šiauliai and Vilkaviškis), Latvian trading company SIA Linas Agro, international trading company Linas Agro A/S in Denmark, group of companies ŽŪB Landvesta, managing agricultural land, holding of agricultural companies UAB Linas Agro Konsultacijos, agricultural inputs supplier UAB Dotnuvos Projektai, operator of lignin biofuel accumulation UAB Lignineko,logistic company UAB Jungtinė Ekspedicija and other companies. The financial year of the companies begins on 1 July. The total headcount of the Group exceeds 950 employees. Consolidated revenue of AB Linas Agro Group in the first half of financial year 2012/2013 totaled LTL 1,123 million, EBITDA –LTL 91 million.

Together with partners, the Group owns grain storage company Karčemos Kooperatinė Bendrovė.

From 17 February 2010 AB Linas Agro Group is included in the main list of companies of NASDAQ OMX Vilnius stock exchange.

Newswire Distribution Network & Management

About Us

GlobeNewswire, a Nasdaq company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.